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Jun-2024
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Overview
Market Insights Snapshot
Floresense has shown varied performance across different categories and states/provinces. In Alberta, the brand did not make it into the top 30 for Vapor Pens from March to June 2024, indicating a challenging market presence. Conversely, in British Columbia, Floresense maintained a steady 11th position in the Oil category from April to June 2024, reflecting a stable market share and potential consumer loyalty in this region. The absence of ranking in Alberta is a negative indicator, suggesting the need for strategic adjustments to improve their standing in the Vapor Pens category there.
In Ontario, Floresense displayed consistent performance in the Oil category, holding the 13th position in three out of the four months analyzed, with a slight dip to 14th place in May 2024. This consistency suggests a solid foothold in the Ontario Oil market. However, their presence in the Vapor Pens category in Ontario did not make it into the top 30 after March 2024, highlighting a potential area for growth. In Saskatchewan, the brand started strong in March 2024 with a 29th rank in Vapor Pens but fell out of the top 30 by May 2024, indicating a significant drop in market performance. This decline emphasizes the need for targeted marketing and product strategies to regain market position.
Competitive Landscape
In the competitive landscape of the Ontario cannabis oil market, Floresense has shown a relatively stable performance, maintaining a consistent rank around the 13th to 14th position from March to June 2024. This stability is notable compared to competitors like Solei, which experienced fluctuations but remained close in rank, and Five Founders, which saw a significant drop from 6th to 12th place over the same period. Meanwhile, Divvy demonstrated a more volatile trend, dropping to 15th in May before rebounding to 10th in June. Floresense's steady performance, coupled with a notable increase in sales from April to June, suggests a growing consumer base and potential for upward mobility in rank. However, the brand faces stiff competition from C Minor, which jumped from 16th to 12th place in May, indicating a rapidly increasing market presence. These dynamics highlight the importance of strategic marketing and product differentiation for Floresense to enhance its competitive edge and capitalize on its upward sales trend.
Notable Products
In June 2024, the top-performing product for Floresense was CBD 100 Clear Oil (20ml), maintaining its rank at 1st place with notable sales of 1833. Socialites- Mixed Drink Infused Pre-Roll 3-Pack (1.5g) held steady in 2nd place, despite a decline in sales. The CBN:THC:CBD 10:5:1 Blueberry Dreams (30ml) oil product improved to 3rd place from 4th in May 2024. CBD/THC 3:1 Lavender Chamomile Full Spectrum Cartridge (1g) rose to 4th place from 3rd, showing consistent demand. Social Series - Strawberry Chill Distillate Cartridge (1g) re-entered the top five, moving to 5th place after not being ranked in May 2024.
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